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11.07.2022 - 23:45

One of the disadvantages of a sole proprietorship is that the proprietor is exposed to unlimited liability. a. True b. False

Question:

One of the disadvantages of a sole proprietorship is that the proprietor is exposed to unlimited liability.

a. True

b. False

Answers (1)

Lorene April 8, 2023 в 08:17

(a) True. A sole proprietorship is a business entity in which the owner and the business are considered as one entity. Therefore, the owner is personally responsible for all the business debts and legal obligations. This means that the owner's personal assets can be taken away to pay the business debts or obligations. Hence, the proprietor is exposed to unlimited liability, which is a major disadvantage of a sole proprietorship.

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